Worried about Bitcoin this week? At least ElonMusk believes BTC 'will make it.'
At the time of writing, BTC/USD is still around that close — $16,300 reappearing as a relief bounce after the pair wicked to just $15,780 on Bitstamp overnight.The story is far from over when it comes to FTX, as firms with exposure to the exchange and related entities find themselves in trouble.
Data from on-chain analytics firm CryptoQuant showed 1,500 BTC leaving Gate.io on Nov. 13, with Nov. 14 currently at nearly 800 BTC and rising.More broadly, data showed exchange BTC reserves at an estimated 2.09 million BTC, CryptoQuant noting that due to the turmoil it may not reflect the true state of affairs.Bitcoin exchange reserves chart. Source: CryptoQuantAgainst the backdrop of ongoing uncertainty, making BTC price predictions is thus no easy task.
“Nice breakout, but if we cannot hold the swing low at $16,400 then this was just a fake out and we wait for a test lower,” heThe move came as Twitter CEO, Elon Musk, came out in tacit support.Twitter debate . Source: Twitterto help shield businesses.The picture outside of crypto further underscores the extent to which FTX has marked a “black swan” event for the industry.
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